The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat
resistance line and a rising support line. The higher lows indicate the
increasing demand and give the ascending triangle definitive bullish bias. The
ascending triangle usually represents an accumulation stage in bullish market.
The ascending triangle is considered as a continuation pattern, especially in an
uptrend, but it may also mark a reversal in a downtrend. Volume usually increases
on a breakout move. After breakout (similar to rectangle), resistance may turn into
potential support and vice versa.Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern. Tips:# 1As a continuation pattern, an ascending triangle usually appears within
a young trend, characterized by neutral long-term indicators and overbought
short-term indicators. An ascending triangle resets short-term indicators to
neutral and then continues the movement in parent's direction.# 2 As a reversal formation, an ascending triangle appears in a mature downtrend,
characterized by oversold short-term and long-term indicators. This situation
usually generates bullish divergence on long-term indicators. # 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.Estimated Target: the main trend support/resistance line.

It was the negative week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB dropped -2.90 points, or -2.11%, and closed at 134.35 on Friday, February 09, 2018. It was the worst weekly loss since October 6, 2017. Weekly volume was -7% below average. Long-term trend: [See FXB long-term trend chart]A long-term uptrend had started on January 11, 2017 at 117.48 and reached 139.08 on January 25, 2018. FXB gained -21.60 points, or -18.39%, in 54 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 129.77 and resistance is at 135.44. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend. Medium-term trend: [See FXB medium-term trend chart]A medium-term uptrend had started on December 15, 2017 at 129.31 and reached 139.08 on January 25, 2018. FXB gained -9.77 points, or -7.56%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (135.86) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FXB may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend. Weekly Technical Indicators: [See FXB weekly technical indicators chart]Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. The weekly MACD line is above its signal line since November 24, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See FXB short-term trend chart]A short-term downtrend had started on January 25, 2018 at 139.08 and reached 133.74 on February 9, 2018. FXB lost 5.34 points, or 3.84%, in 15 days. The price is now at the 11.42% retracement level. Daily Technical Indicators: [See FXB daily technical indicators chart]Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.